Billionaire Steve Cohen is Buying These 5 Stocks in 2022

2. Entergy Corporation (NYSE:ETR)

Number of Hedge Fund Holders: 29

Entergy Corporation (NYSE:ETR) is a Louisiana-based company that distributes electricity and natural gas in Arkansas, Louisiana, Mississippi, and Texas. Entergy Corporation (NYSE:ETR) is a new arrival in Steve Cohen’s Q1 portfolio, with the billionaire purchasing 1.12 million shares of the company, worth $131.7 million. 

On April 25, Credit Suisse analyst Nicholas Campanella initiated coverage of Entergy Corporation (NYSE:ETR) with an Outperform rating and a $136 price target. Entergy Corporation (NYSE:ETR) is one of his best ideas for the second half of 2022 since he believes the company is positioned feasibly to navigate inflation and de-carbonization, the analyst told investors.

According to Insider Monkey’s data, 29 hedge funds held long positions in Entergy Corporation (NYSE:ETR) at the end of March 2022, up from 27 funds in the last quarter. Stuart J. Zimmer’s Zimmer Partners is a notable stakeholder of the company, with 1.3 million shares worth $154.5 million.